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ION Core Code Rebase Update

01 February 2017

Hello ionomy,

The ION team has been testing the rebased ION core code with the testnet community and is finalizing the release candidate. Reworked from top to bottom to include the latest Proof of Stake 4.0 optimizations, the new ION introduces major features as well as improved wallet stability, network reliability, and security.

Highlights include:

Automated wallet backups

Simultaneous Staking and Masternode operation from the same address and wallet.

InstantX transactions using masternode technology to propagate through the network instantaneously.

Faster and more consistent block times: New blocks every 70 seconds on average.

Transactions confirm more quickly.

The schedule of events, starting tomorrow, February 2, 2017

14:00 GMT the ION developers will take a snapshot of the blockchain. This will record all the current wallet addresses and balances of 1 ION or greater.

14:30 GMT: The new rebased chain will launch. All addresses will be funded to match the balances the snapshot captured from the former blockchain.

19:00 GMT: Once the new blockchain has stabilized (around block 500) the core wallets will be released to the public.

What you need to do

This is a RESTART of the blockchain and a rebase of the core code. Previous wallets will NOT connect to the new ION Mainnet.

ionomy wallets will be upgraded automatically, so users do not need to do anything with their ionomy.com accounts. Starting at 13:59 GMT through 19:00 GMT, withdrawals and deposits will be disabled from the moment of the snapshot until the public implementation of the new blockchain.

If you use the ION QT (desktop) or IONd (daemon) wallet, YOUR ACTION IS REQUIRED:

All QT (desktop) or daemon users will need to move their wallet.dat or import their private keys into the new wallet once installed. Your previous ION QT installation can then be deleted. Instructions for upgrade can be found here for each operating system.

If you have addresses with balances of less than one ION and you wish to preserve them, your dust will be lost unless you take action. One way to preserve your dust is to consolidate your coins into a single address. Another way would be to send it to your wallet at ionomy.com.